Portland, OR, Aug. 26, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, global vacuum pump market collected USD 5.4 billion in 2021 and is estimated to generate USD 9.3 billion by 2031, exhibiting a CAGR of 5.5% from 2022 to 2031. The report provides an extensive analysis of the market’s changing dynamics, key segments, value chain, competitive scenario and regional landscape. This research provides valuable guidance to key players, investors, shareholders and startups in devising strategies for sustainable growth and gaining competitive advantages in the market.
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Report coverage and details:
|Report coverage||The details|
|Market size in 2021||5.4 billion dollars|
|Market size in 2031||9.3 billion dollars|
|Number of pages in the report||225|
|Segments covered||Lubrication, Pressure, End User and Region.|
|leader||Growth in automotive, healthcare and oil and gas activities|
|Increased use of vacuum pumps in cars for safety purposes|
|Increase in the number of surgical procedures|
|Implementation of regulatory standards for maintaining clean rooms and surgical protocols|
|OppORTuNiTy||An increase in investment from end-user industries such as oil and gas, power generation, chemicals and automotive|
|RESTRICTIONS||High operating and maintenance costs associated with vacuum pumps|
The Covid-19 scenario:
- The spread of the COVID-19 pandemic had a negative impact on the growth of the global vacuum pump market, due to the implementation of global lockdown that forced various manufacturers in the vacuum pump market to stop their business in countries such as China, the U.S. . , and India.
- Demand for vacuum pumps decreased significantly from end-use industries, including automotive and oil and gas. This, in turn, hindered the growth of the overall market.
- In addition, the supply chain was disrupted due to import and export restrictions. Manufacturers faced labor shortages and raw materials shortages. These factors negatively affected the growth of the market.
- However, the reopening of production facilities and the introduction of vaccines for the coronavirus disease helped the market recover immediately in the post-pandemic period.
The research provides a detailed segmentation of the global vacuum pump market based on lubrication, pressure, end user and region. The report discusses the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue generating and fastest growing segments mentioned in the report.
Based on lubrication, the dry vacuum pump segment held the largest share in 2021, accounting for nearly three-fifths of the global vacuum pump market and is expected to continue its leading status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 6.4% from 2022 to 2031.
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Based on pressure, the medium vacuum pump segment accounts for the largest share in 2021, contributing to nearly one-third of the global vacuum pump market and is expected to maintain its dominance in terms of revenue during the prediction. However, the low vacuum pumps segment is expected to exhibit the highest CAGR of 7.7% from 2022 to 2031.
Based on end-user, the chemical and petrochemical segment accounts for the largest share in 2021, holding more than one-fourth of the global vacuum pump market and is expected to continue its leadership status during the forecast period. However, the healthcare and pharmaceutical segment is estimated to grow at the highest CAGR of 7.8% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing nearly two-fifths of the global vacuum pump market and is projected to retain its dominant share in terms of revenue in 2031. More moreover, the same region is expected to manifest the fastest CAGR of 6.4% during the forecast period. The research also analyzes regions including North America, Europe and LAMEA.
Major market players of the global vacuum pumps market analyzed in the research include Atlas CoVacuum pumpo AB, Becker Pumps Corporation, Busch Vacuum Solutions, Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, Ingersoll Rand, Pfeiffer Vacuum GmbH, and. .
The report provides a detailed analysis of these key players in the Vacuum Pump market. These players have adopted various strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in various regions. The report is valuable in highlighting the business performance, operating segments, product portfolio and strategic moves of the market players to display the competitive scenario.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business advisory arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a dedicated view to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We are in professional corporate relationship with various companies and this helps us in digging the market data which helps us to generate accurate research data tables and confirms maximum accuracy in our market forecast. Allied Market Research CEO Pawan Kumar is important in inspiring and encouraging everyone associated with the company to maintain high data quality and help customers in every possible way to achieve success. All the data presented in the reports published by us are extracted through primary interviews with senior officials from the leading companies in the field in question. Our secondary data procurement methodology involves in-depth online and offline research and discussions with knowledgeable industry professionals and analysts.
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